USDJPY: Monthly-Chart
We see a very long-term chart of the USDJPY. I have drawn two important levels: the strong support Zone (highlighted in green) and the negative trend line (dark green). Both were broken up by buyers power and the course has since then returned to it and rebounded as expected. It is always nice to see how such psychological levels are noticed by the traders and can be used for trades within the Forex analysis.
USDJPY: Daily-Chart
Now it will be interesting to see if the course again can go to the upper resistance of the channel. Here I expect at least a
reaction of the sellers.
It is only important not to trade directly in such resistances, but rather to trade away from them. I will keep track of this level for a possible sell the following week.
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